Brent oil technicals point to a bounce into $103.66-$103.95 before support retest
Reuters market analyst Wang Tao says Brent may bounce moderately into $103.66-$103.95, then retest support at $102.18, with a potential extension toward $99.65-$100.84.
18. 76. 2% levels. 14.
On the daily chart, the market remains within the lower channel, despite its effort to climb toward the upper channel. Both the lower channel and the wave pattern suggest a drop toward $98. 92 range. Wang Tao is a Reuters market analyst for commodities and energy technicals.
The views expressed are his own. His analyses are published exclusively on the Workspace platform, a London Stock Exchange product. * No information in this analysis should be considered as business, financial, or legal advice. Each reader should consult his or her own professional or other advisers for business, financial, or legal advice regarding the products mentioned in the analyses.
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